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Matt J

SWGB
May 9, 2007
24,643
9,496
Granted I'm a Realtor who makes his living by closing deals. If I don't close deals I don't get paid.

I like REO's. I can close them in 30 days and my buyer is ecstatic because he gets a great deal. Shorties? I can close them maybe...just maybe in 120 days to over a year----OR NOT AT ALL!

We had a local attorney speak at our monthly sales meeting last week. He wants us to bring him our short sales deals because he is an "expert" at closing them. He also professed expertise in prolonging foreclosure and wanted us to bring him our sellers in trouble facing foreclosure.

I posed my feelings to him: I can empathize with the primary homeowner who lost his job and is facing foreclosure but wants to cure his default. But I think it is criminal for the investor to collect rent while not making mortgage payments and hiring an attorney to prolong the process.

His responce? "It's a double edged sword."

The sooner the lenders foreclose and then sell as REOs the better for this industry- buyers and sellers alike.

That ding-ding-ding is the bell bouncing on the bottom. And the bottom is an REO or a seller who bought in prior to 2001 who is still making a satisfactory profit and decided it's time to cash out.

I brought two shorties to the same attorney's office last year...neither one closed.

So is this thread a post for or against the Attorney? :dunno:
 

Geo

Beach Fanatic
Dec 24, 2006
2,750
2,782
Santa Rosa Beach, FL
REO Speedwagon was the first real concert I ever saw- I was 10 years old and I begged my mom to take me. So i saw this thread here in the real estate forum and I was excitedly thinking-

Maybe they are playing at Redfish Village or something to help sell some condos.

Sometimes it feels nice to post your thoughts without really having a point.

;)
 

Lady D

SoWal Insider
Jun 21, 2005
6,165
193
64
Memphis, Tennessee, United States
REO Speedwagon was the first real concert I ever saw- I was 10 years old and I begged my mom to take me. So i saw this thread here in the real estate forum and I was excitedly thinking-

Maybe they are playing at Redfish Village or something to help sell some condos.

Sometimes it feels nice to post your thoughts without really having a point.

;)


I thought that was who they were talking about also. My husband and I love them. But I thought, in the real estate section??? :dunno:
 

Matt J

SWGB
May 9, 2007
24,643
9,496
The Real Estate section works, it's like the subprimates top 40.

[ame="http://www.youtube.com/watch?v=Ak6fZrkjWoA"]YouTube - REO Speedwagon - Time for me to fly[/ame]
[ame="http://www.youtube.com/watch?v=fkzeZb2E62U"]YouTube - REO Speedwagon - Take It On The Run (live)[/ame]
 
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